- The maker's value rose greater than 7%, main Kaspa and Injective amongst altcoins.
- The positive factors for MKR got here as recent bullish momentum emerged amid an enormous $1.35 million Endgame audit contest.
- In a latest put up, MakerDAO stated that blockchain safety platform Sherlock will host a bug-finding competitors from July 8 to August 5, 2024.
Maker (MKR) value rose on the day because the cryptocurrency together with Kaspa (KAS) and Injective (INJ) posted the best positive factors among the many prime 100 cryptocurrencies by market capitalization.
CoinMarketCap knowledge exhibits that the worth of the MakerDAO governance token has elevated by 7% within the final 24 hours.
MKR traded at a low of $2,335 on Wednesday. Nonetheless, a big improve in shopping for strain noticed it breach resistance at $2,400 and hit intraday highs of $2,561 on Thursday morning.
On the time of writing, Maker has a 24-hour buying and selling quantity of over $116 million, up 47% over the interval. In the meantime, the market capitalization elevated by 7% to greater than $2.3 billion.
Why is the worth of MKR hovering right now?
Whereas a lot of the altcoin market continues to battle with downward strain, Maker seems to have benefited from a brand new dose of optimism following Tuesday's main announcement by MakerDAO.
It coincided with the official launch of Endgame Audition, a bug-finding competitors that may enable individuals to win an enormous $1.35 million prize pool. Within the announcement, MakerDAO stated the competitors will probably be on the Sherlock blockchain safety platform.
“DeFi creators are invited to take part within the largest bug-finding competitors within the universe with a complete of 1,350,000 DAI in rewards,” the Maker staff stated in a press release. put up on X.
Sherlock calls this “greatest audit competitors ever”.
Based on MakerDAO, the competitors focuses on group collaboration to enhance the safety of the blockchain platform for Endgame merchandise earlier than the beginning of Maker's Launch Season. The bug hunt will run from July 8 to August 5, 2024.
MKR reached its all-time excessive value of $6,292 in Might 2021.
